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Hotel-Motel

Sleep Inn & Suites and Baymont Blackwell I-35

4530 W White Ave, Blackwell, OK 74631

Listing Price: $4,200,000

Cap Rate
9.30%
Number of Rooms
128
RevPAR
$1
Gross SF
53,525
Price/Room
$32,813
Price/Gross SF
$78.47
Year Built
1994

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Sleep Inn & Suites and Baymont Blackwell I-35, two limited service hotels located off of Interstate 35 in Blackwell, Oklahoma. The Sleep Inn & Suites consists of 68 well-appointed rooms and offers amenities including meeting space, a business center, fitness center, complimentary breakfast and guest laundry facilities. The Baymont was fully renovated this year (2022) and offers a heated indoor pool, meeting space, business center, fitness center, complimentary breakfast and guest laundry facilities. Blackwell, Oklahoma is located off of Interstate 35, midway between Oklahoma City and Wichita, KS. Primary demand for the hotels is transient/highway travel, with other demand coming from the oil & gas industries, oil refineries and wind farm projects. The Sleep Inn & Suites and Baymont Blackwell I-35 represents the opportunity to two franchised hotels in a strong market near several demand drivers. Our Pro Forma analysis assumes market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the Northern Oklahoma region.

Investment Highlights

  • Sleep Inn & Suites Built in 2014 - No Items Left on Current PIP Schedule
  • Baymont Completely Renovated in 2022 ($900k+)
  • Sleep Inn & Suites Outperforms Comp Set in Occupancy & RevPAR
  • Baymont Priced at $25k Per Key
  • Excellent Location Off of Interstate 35, Midway Between Oklahoma City and Wichita, KS
  • 1 Mile to Blackwell Regional Hospital/Stillwater Medical Blackwell
  • Minutes to Top of Oklahoma Museum, Blackwell Fairgrounds & Event Center and Tonkawa Casino
  • 11 Miles to Northern Oklahoma College

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s) OK: 149994

    Oklahoma

Hotel-Motel

Sleep Inn & Suites and Baymont Blackwell I-35

Listing Price: $4,200,000

Cap Rate
9.30%
Number of Rooms
128
RevPAR
$1
Gross SF
53,525
Price/Room
$32,813
Price/Gross SF
$78.47
Year Built
1994

Investment Highlights

  • Sleep Inn & Suites Built in 2014 - No Items Left on Current PIP Schedule
  • Baymont Completely Renovated in 2022 ($900k+)
  • Sleep Inn & Suites Outperforms Comp Set in Occupancy & RevPAR
  • Baymont Priced at $25k Per Key
  • Excellent Location Off of Interstate 35, Midway Between Oklahoma City and Wichita, KS
  • 1 Mile to Blackwell Regional Hospital/Stillwater Medical Blackwell
  • Minutes to Top of Oklahoma Museum, Blackwell Fairgrounds & Event Center and Tonkawa Casino
  • 11 Miles to Northern Oklahoma College

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Sleep Inn & Suites and Baymont Blackwell I-35, two limited service hotels located off of Interstate 35 in Blackwell, Oklahoma. The Sleep Inn & Suites consists of 68 well-appointed rooms and offers amenities including meeting space, a business center, fitness center, complimentary breakfast and guest laundry facilities. The Baymont was fully renovated this year (2022) and offers a heated indoor pool, meeting space, business center, fitness center, complimentary breakfast and guest laundry facilities. Blackwell, Oklahoma is located off of Interstate 35, midway between Oklahoma City and Wichita, KS. Primary demand for the hotels is transient/highway travel, with other demand coming from the oil & gas industries, oil refineries and wind farm projects. The Sleep Inn & Suites and Baymont Blackwell I-35 represents the opportunity to two franchised hotels in a strong market near several demand drivers. Our Pro Forma analysis assumes market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the Northern Oklahoma region.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s): OK: 149994

    Oklahoma

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